(Boursier.com) — ETC Group, Europe’s leading issuer of securities covered by digital assets, has announced that it will launch the first crypto ETP based on an MSCI index. The ETP ETC Group MSCI Digital Assets Select 20 is expected to be listed on the German market Deutsche Börse XETRA no earlier than April 2023.
The ETP will track the performance of the MSCI Global Digital Assets Select Top 20 Capped Index. The index, developed by MSCI with help from ETC Group, was launched in early March this year and represents the top 20 digital assets. These currently include cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). Each individual component of the index is capped at a maximum of 30%. Stablecoins, privacy tokens and meme coins are excluded from the index universe.
Like the other ETC Group products, the ETP is backed by physical assets which are deposited in “cold storage”, in accordance with the composition and weighting of the index.
Tim Bevan, Co-CEO and Founder of ETC Group, said: “We are very proud to issue this new benchmark ETP. With twenty constituents, it is the first true global market indexed ETP in this exciting new asset class, offering an ideal asset allocation tool for investors”.
Bradley Duke, Co-CEO and Founder, added, “This product marks the evolution of ETC Group’s offering from single asset access products to products that provide asset management solutions. investment while maintaining the same uncompromising standards of quality and security for investors.”
Stephane Mattatia, Head of Thematic Indices at MSCI, said: “The digital asset ecosystem is changing rapidly and investor demand for access to this new asset class is increasing. MSCI Digital Assets Indices are developed with a systematic and focused on methods to help investors around the world gain transparency on this disruptive long-term trend and enable them to make better investment decisions.”
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